I just did not know if Disney had an official policy for the DVC owners. Even if there is one, I realize it can be changed at any time & that the policy is between Disney & the owners.
It's more complicated than that.
First of all, a hurricane cancellation obviously would occur within a few days of your scheduled arrival...maybe even the day of arrival. Even if DVC gave the owner their points back, the points would probably be in "holding account" and could only be used for ressies 60 days out. 60 days out severely limits availability -- and look at the period you're heading into if you cancel in September! Thanksgiving through New Years is already probably 99% booked NOW. You're not going to get anything in that period 60 days out. The Epcot resorts are also probably completely booked for Food and Wine, so you're not going to get anything there during October either.
Another issue is banking deadlines. Even if DVC puts the points back in the owner's account, they may be past the banking deadline and the owner may not be able to use the points at all. If you're in an availability crunch, and the points expire, it would be pretty hard for the owner to refund your money.
These are just two of the complicating factors that caused me to say the owner might be powerless to help you, even if they wanted to.
For hurricane season, I think you have to take one of two approaches.
Either book through Disney directly.
OR...recognize that hurricanes often threaten but rarely hit, and when they do hit, they are usually one- or two-day events. Even when Orlando gets hit head-on by a hurricane, it's
nothing like what the coastal areas face, so the damage is
relatively light. Usually at WDW, it's a matter of hunkering down in your room for a day and then going on with the rest of your vacation afterward.